Warren Buffett's utility co. orders $1 billion of wind turbines due to drop in costs

  • Written by Adam West
  • Published in USA
Buffett's Wind Turbines purchase is proof that wind power is getting more competitive compared with other types of energy sources(mainly compared with fossil fuels). This is good news for renewable energy fans world-wide. Warren Buffett's utility company made the order of wind turbines after seeing a drop in equipment costs. The turbines will be installed in Iowa. 

Here, wind already is the cheapest source of power. The situation can very well become a reality in other parts of the world too as wind turbines are becoming more and more profitable, even without subsidies.

This doesn't represent good news for all the industries though. Coal miners companies such as Arch Coal, Peabody Energy Co, Rio Tinto Energy America and many others should see what's happening as a threat.

It's indeed nice to see a change in US energy investment, especially as gas prices are expected to go high in the near future. Analysts even believe that this might lead to an economy boost since it gives more buying power to the average working class. Companies such as Vestas Wind Systems, General Electric Co. and Siemens will definitely profit from how the wind industry is evolving. By 2020 it is expected that wind power will become competitive in most windy areas from around the United States.